KARACHI: Artistic Milliners on Friday announced the acquisition of a majority stake in Cone Denim from Elevate Textiles, marking a significant international expansion by the Pakistan-based textile group.
The combined operations will continue under the historic Cone Denim name, while Artistic Milliners’ existing Pakistan business will remain independent.
The transaction is expected to close in the first quarter of 2026. Cone Denim, with more than 130 years of industry presence, will continue as a standalone portfolio company under Artistic Milliners. It will offer integrated, end-to-end solutions — from premium denim fabric to finished garments — across a global platform.
The new entity will bring together selected assets from both companies. It will include Cone Denim’s mills in Parras and Yecapixtla, Mexico, and Jiaxing, China; Artistic Milliners’ new garment facility in Parras; and its Star Fades International (SFI) laundry and development centre in Los Angeles.
“Cone Denim will retain its identity while pursuing its own strategy,” said Murtaza Ahmed and Omer Ahmed of Artistic Milliners in a joint statement. “We aim to build on Cone’s legacy by leveraging combined infrastructure and expertise to enhance service and flexibility for customers.”
Steve Maggard will continue as president of Cone Denim and lead the new company. He will report to a board of directors comprising Murtaza Ahmed, Omer Ahmed, Jeffrey P. Pritchett (CEO and board member of Elevate Textiles), and additional members yet to be named.
Published in Dawn, September 20th, 2025